The Vice Chancellor of Bowen University, Iwo, Osun State, Prof. Jonathan Babalola, has called on the Federal Government to extend the Nigerian Education Loan Fund (NELFund) to students in private universities.
Speaking on Wednesday while briefing journalists ahead of Bowen University’s 20th convocation ceremony, Babalola argued that students of private institutions are equally Nigerians and deserve access to the interest-free loans.
“It is insincerity from the federal government to say that private universities cannot benefit from it. NELFund should be made available for students in both public and private universities. We are all Nigerian, and why discriminate between students in private and public universities?” Babalola said.
He further highlighted that some private university students are indigent, recalling meeting a student on campus who only eats once a day.
“Not all students in private universities have the money; some of them are indigents,” he added.
About NELFund and Its Impact
NELFund, established under the Nigeria Student Loan Scheme signed into law by President Bola Tinubu in April 2024, provides interest-free loans to students in public tertiary institutions for tuition and living expenses.
Beneficiaries repay the loans after graduation and employment.
The scheme, which began accepting applications in May 2024, aims to remove financial barriers to education and support students from low-income families.
Since its inception, over ₦116.4 billion has been disbursed, benefiting 624,535 students from 929,805 applications.
According to a Daily Status Report released on Tuesday, October 28, 2025, tuition payments totaling ₦65.3 billion have been made to 239 institutions, while ₦51.1 billion has been disbursed as upkeep allowances for students.
The student loan portal for the 2025/2026 academic session opened on October 23, 2025, and will run until January 31, 2026.
Convocation Ceremony Details
The upcoming 20th convocation will see 1,064 students across undergraduate and postgraduate programmes graduate from Bowen University.
The VC provided a breakdown of the graduands’ academic achievements: 143 students will graduate with First Class Honours, 394 with Second Class Upper Division, 221 with Second Class Lower Division, 69 with Third Class, and 5 with Pass.
In specialized programmes such as Physiotherapy and Nursing Science, 30 students earned Distinctions, 80 achieved Credit, and 3 obtained a Pass.
Additionally, 66 students from the College of Health Sciences will receive the Bachelor of Medicine, Bachelor of Surgery (MB; BS) degree.
Postgraduate graduands include 18 candidates earning Postgraduate Diplomas, 26 Master’s degrees, and 9 PhDs.
Academic Recognition and Staff Achievements
Highlighting Bowen University’s academic reputation, the VC noted that for the sixth consecutive year, the institution produced scholars ranked among the Top 2% of scientists worldwide, a recognition jointly compiled by Stanford University and Elsevier.
Thirteen staff members were also listed among the Top 500 authors in Nigeria between 2021 and 2025 by SCOPUS/SCiVal, reflecting the university’s strong research output and impact.
The convocation will also mark the retirement of several key staff members, including the University Registrar, Mr. Babatunde Adeona, University Librarian, Dr. Aderonke Otunla, and Chaplain, Rev. Dr. Gideon Akanbi, all of whom have completed their five-year tenure.
VC Appeals for Fairness
Prof. Babalola concluded his briefing by urging the Federal Government to ensure fairness in educational opportunities, stressing that private university students should not be denied access to NELFund simply because of the type of institution they attend.